Change - Announcement Of Retirement Of Lead Independent Director

Back Nov 22, 2018
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Nov 22, 2018 18:08
Status New
Announcement Sub Title Retirement of Lead Independent Director
Announcement Reference SG181122OTHR42QL
Submitted By (Co./ Ind. Name) Saito Hiroyuki
Designation Executive Chairman / Chief Executive Officer
Description (Please provide a detailed description of the event in the box below) This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Additional Details
Name Of Person Chia Seng Hee ("Mr Jack Chia")
Age 57
Is effective date of cessation known? Yes
If yes, please provide the date 22/11/2018
Detailed Reason (s) for cessation Mr Jack Chia, who was due to retire at the Annual General Meeting of the Company ("AGM") pursuant to Article 117 of the Company's Constitution did not seek re-appointment as a Director at the AGM due to personal reasons. Consequent thereto, Mr Jack Chia ceased to act as the Chairman of the Audit Committee and a Member of the Nominating and Remuneration Committees, following the conclusion of the AGM.

SAC Capital Private Limited, after having interviewed Mr. Jack Chia, is satisfied that other than as disclosed in this announcement, there are no material reasons for the retirement of Mr. Jack Chia.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? No
Any other relevant information to be provided to shareholders of the listed issuer? No
Date of Appointment to current position 01/08/2018
Does the AC have a minimum of 3 members (taking into account this cessation)? Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Lead Independent Director, Chairman of AC, NC member and RC member
Role and responsibilities Lead Independent Director, Chairman of AC, NC member and RC member
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries None
Shareholding interest in the listed issuer and its subsidiaries? No
Past (for the last 5 years) (i) AGV Group Limited
(ii) China Hongcheng Holdings Limited (Delisted from the Official List of the SGX-ST with effect from 9.00 a.m. on 22 November 2016)
(iii) E Frontier Global Pte. Ltd. (Struck off)
(iv) E Frontier Singapore Pte. Ltd. (Struck off)
(v) Guangzhao Industrial Forest Biotechnology Group Limited (Dissolved - Compulsory winding up)
(vi) Legami Pte. Ltd.
(vii) Ricesse Management Inc
(viii) Singapore Capital Partners Pte. Ltd. (Struck off)
(ix) Sunray Holdings Limited (Delisted from the Official List of the SGXST with effect from 9.00 a.m. on 1 April 2014)
(x) Shanghai Turbo Enterprises Limited
(xi)Best Success (Hong Kong) Ltd
(xii)Jack Global Consulting Pte. Ltd.
Present (i) Combine Will International Holdings Limited
(ii) Debao Property Development Ltd
(iii) Dukang Distillers Holdings Limited
(iv) mm2 Asia Ltd.
(v) Ying Li International Real Estate Limited